Why you should get an appraisal from Ferrari Appraisals LLC
Thousands of people in Connecticut purchase, sell or refinance their home each year. Many of these transactions include a simple line item for an appraisal. And while there are a developing number of automated home valuation processes that may appear more prudent than an appraisal, almost all lenders still need a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there also cases when the services of a certified, independent real estate professional might be helpful? Absolutely.
Appeal your tax assessment
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from Ferrari Appraisals LLC is your best evidence when building your case. We can assist you in appealing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the home, most lenders ask home owners to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Ferrari Appraisals LLC can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can generally be regained in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is an especially daunting event for the parties involved, and it is often even more complicated by the troublesome decision of who maintains the home. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal from Ferrari Appraisals LLC, regardless of the situation.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Hartford County through an employee relocation program
We know the headaches associated with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Sell your home promptly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.